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What is the entry for provision of baddebts
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Answer / syed mohd ziya
provisions are made for definite expected losses and
reserves are made to meet out the cotingencies.
bad debts- nominal nature- loss
all expences and losses are debited, gains are credited.
journal entry:-
profit and loss a/c Dr
To provision for bad & doubtfull debts
2- bad debts a/c Dr
TO debtors a/c
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Answer / sumit goyal
Provision for bad debts a/c Dr.
To Debtors
Profit & loss a/c Dr
To Provision For bad debts
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / manikandan
1. Provision for Bad Debts
P&L a/c Dr
To Provision for Bad Debts
2. When we are closing
Provision for bad debts a/c Dr
To Debtors
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